Qatar Islamic Bank Issues USD 750 Million in Five-Year Sukuk

Qatar Islamic Bank (QIB) has successfully closed the issuance of USD 750 million in Sukuk with a five-year maturity period at an annual profit rate of 1.95%, according to local media reports. The issuance was implemented under QIB’s USD 4 billion Trust Certificate Issuance Programme, which is listed on Euronext Dublin.

The bonds were sold at 155 basis points (bps) over mid-swaps, tightening 30 bps from when it began marketing on the 20th of October 2020. The profit rate was the lowest ever paid by QIB on their fixed rate Sukuk issuances, local media reported.

According to local media, demand for the Sukuk was strong with QIB receiving over USD 2.2 billion in orders, represen...